While the S&P 500 looks like it wants to go lower, it could just as easily find its footing, but for now the indexes are expressing some weakness here. With the NASDAQ set to test its 50-day moving average at the open, it remains to be seen whether it can hold and provide the index with a line of logical support.
Market Lab Report - Premarket Pulse 6/9/15
|Published:||9 Jun 2015 12:57 ET|
Major averages fell on lower volume as the NASDAQ Composite bounced off its 50dma while both the S&P 500 and DJIA trade firmly below their respective 50dmas. Not much to say except take profits when you have them in context with the stock chart and the market as it remains more of a swing-trader's environment as it has for most of 2015.
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